Amend the amendment in section 1 in §7403 in subsection 4 by striking out all of paragraph A (page 3, lines 20 to 27 in amendment) and inserting the following:
‘ A.
Procure insurance coverage of the shared vehicle during the car sharing period. At a minimum, the insurance must provide:
(1) Primary liability coverage for the shared vehicle owner and secondary liability coverage for the shared vehicle driver in an amount not less than 3 times the minimum requirements for liability in Title 29-A, section 1605; and
’ (2) Beginning June 1, 2020, property and casualty coverage, including comprehensive and collision protection, for physical loss to the shared vehicle during the time that the vehicle is in the custody of the provider or shared vehicle driver in an amount not less than the replacement cost of the shared vehicle;
Amend the amendment by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
summary
This amendment clarifies the requirement for a peer-to-peer car sharing program provider to procure liability insurance coverage and specifies that the requirement for a peer-to-peer car sharing program provider to procure property and casualty coverage begins June 1, 2020. The amendment also replaces the requirement that property and casualty insurance coverage for physical loss to a shared vehicle be provided to the same extent that coverage for physical loss is provided under a shared vehicle owner's policy with a requirement that coverage be provided in an amount not less than the replacement cost of a shared vehicle.